Colombia central bank transfers $1.6 billion to government
The Central Bank of Colombia approved the transfer of slightly more than $1.6 billion in net profits to the government on February 28.
The board said it had nearly $1.8 billion in total profits from 2022 and earlier years. By law, some of these are allocated to cultural activities, other expenses and the central bank’s own reserves. The rest “is the nation’s”.
The funds will be paid to the treasury in government bonds. The state budget for 2022 was $93 billion.
The central bank’s profits
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Financial reporting
Central banks should explain why losses are necessary – BIS paper
Policy goals sometimes necessitate losses but they need to be accompanied by clear communications
Federal Reserve saw fall in profits in 2022
Central bank remitted $76 billion to US Treasury, but has been in red since September
Bank of Canada posts first quarterly loss in its history
“We do not make policy to maximise our income,” says Macklem
Powell divests municipal bond holdings
Fed chair acted early to comply in with new ethics code at Federal Reserve
Fed faces years of losses as interest rates rise
QE brought major interest rate risk onto central bank’s balance sheet
BIS balance sheet buffeted by market turbulence
Institution still turned a profit in the year to March 2022
Mozambique’s government owes central bank over $600 million – auditors
Auditors say government is obliged to compensate central bank over forex movements
SNB predicts rise in profits for 2021
Early estimate suggests profits will be up around Sfr5 billion on 2020 figure